(Term 3 & 4: April - September)
The aim of the MBA Finance programme is to develop a broad but critical understanding of the major areas of finance and enable the student to apply this theoretical understanding to the practical management of the financial affairs of a business, both domestically and internationally.
Term 3
Financial Risk Strategy:
The module will focus on the application of various financial tools and techniques, such as futures and options, used to man-age financial risks within an organisation. Hence students will cover all the main treasure tools, learn how to apply and evaluate them and devise strategies for dealing with risk.
Corporate Financial Management:
This module aims to provide students with a critical understanding of the strategic relationship and interaction between a firm’s investment, financing and dividend policy decisions within the context of Shareholder Value Analysis. It also considers the agency problems that can arise in these key corporate financial decisions of the firm and how they can be minimised.
International Finance:
This module aims to provide students with an understanding of the development and growth of Multinational Corporations (MNC’s), the issues involved in international finance and investment decisions, and the use of global financial markets. It also considers international cash management and risks in international business operations.
Term 4
Pathway Dissertation:
The dissertation is a major piece of work which demonstrates the student’s ability to qualify for the award of MBA. The study must have a business focus and be appropriate to the student’s pathway. No lectures take place during Term 4, however, you will maintain individual contact with your dissertation supervisor.
MBA Career Enhancement & Planning:
The aim of Career Enhancement & Planning activity is to provide support in relation to addressing the students’ concerns regarding issues relating to the question of What next?, for example: future prospects, career aspirations and further study opportunities.
Sunday, January 13, 2008
MBA Finance Ranking
The term MBA finance ranking refers to the measurement of aid that a student will have in order to finance his studies. We recommend referring to the following channels in the order given in order to maximize financial ability from outward sources in combination with the wish to return loans given during the post-study period. It is surmised that toward the end of studies, one's financial position is more advantageous and loans will be easier to repay.
Certain financial aid packages may be given in the form of grants that do not have to be repaid and may cover some or all costs of studies. These usually come with stipulations, such as the supposition that the student will return to his own country on completion of MBA studies. In cases where the loan does need to be repaid, there will probably be some sort of benefit, such as a long repayment period.
Certain financial aid packages may be given in the form of grants that do not have to be repaid and may cover some or all costs of studies. These usually come with stipulations, such as the supposition that the student will return to his own country on completion of MBA studies. In cases where the loan does need to be repaid, there will probably be some sort of benefit, such as a long repayment period.
Three options for MBA finance ranking:
- Support from the School of Business: Scholarships and Bursaries are offered at a number of schools. These are usually offered on a competitive basis. The student applies for MBA Finance Ranking and if he meets the criteria, he will be offered funds. Schools wishing to attract students from particular countries, professions, ethnic groups will offer aid under a number of different variants. They may offer jobs as research assistants to help with fees, for instance. Prospective students would be wise to check for MBA Finance Ranking in the Prospectus, Website, etc. or ask for them.
- Support from governments, charities by grants/scholarships and bursaries.
- Support from financial institutions
MBA Edge
A masters programme viz MBA is professional preparation for a management career. It provides a starting platform for understanding the structure of the business that you are entering. An MBA holder has better decision-making abilities, has structural thinking, is focused and can do better business. One gets a taste of how theory is applied in practice. It provides knowledge of many aspects of business - not enough for one to claim mastery over it, but enough to know the issue that need to be looked at, the possibilities and options available, the ramification etc. The same knowledge can certainly be acquired without MBA also but it would come through trial and error, through making most mistakes during one's working life. MBA programme helps in fast forwarding the learning process, vicariously based on other peoples' experiences. The kind of skill-sets that an employer look for are most commonly found in MBA's. The kind of skills that you learn while doing MBA, find better use at a later stage, when you are in the middle or senior management level.
The MBA and PGDF Program will give you the opportunity to develop a range of highly valued professional skills and a competitive edge in your Finance career.
Career Progression : In most professional organizations, the senior managers are usually trained in management areas. There are more opportunities for management trained personnel than for almost any other functional qualification. Our Programs will provide a quantum jump in career progression.
The MBA/PGDF Program with its general management focus, and the blend of Indian and International perspective will be your key competitive advantage as you enter the fiercely competitive business environment. It will help you move ahead of the pack and allow you accelerated access to senior management positions.
Personal Growth : The MBA Program will impart you with a perspective which enables you to relate to the entire business environment within which you may operate. You will be able to understand the impact of various decisions and play a significant role in them. The MBA Program will also help you understand business sufficiently to plan your own career and entrepreneurial moves successfully. And, of course, a more rewarding life, a better set of peers and recognition by society are sources of additional satisfaction.
Continuous Learning : The MBA Program is a tremendous learning opportunity. It will allow you to update your knowledge and skills significantly. The knowledge you acquire needs constant upgradation. And the learning methodology in the MBA Program provides you with a mechanism to seek, comprehend and internalize knowledge on a continuing basis.
MASTER OF BUSINESS ADMINISTRATION (BANKING & FINANCE) - CAIIB LINKED MBA
| MASTER OF BUSINESS ADMINISTRATION (BANKING & FINANCE) - CAIIB LINKED MBA (IN COLLABORATION WITH INDIRA GANDHI NATIONAL OPEN UNIVERSITY-IGNOU, NEW DELHI) | |
| Qualification | |
| Minimum Qualification : Should be a Graduate in any discipline | |
| Special Features : | |
 | No Age Limit; |
| No Entrance Test; |
| Through Distance Learning; |
| No Cadre Stipulations Course |
| Structure - | |
| A. | Core Courses -11 (Compulsory courses); |
| B. | Specialisation Course in Banking - Any 5 out of 7 courses; |
| C. | Integrative Courses - 2 compulsory courses and 1 Project Course; |
| D. | Electives - 1 out of 3 courses |
| Credit transfers are available | |
| Procedure for enrolment : Enrolment is done for each semester. Student Handbook and Prospectus are available from IGNOU Regional Offices; | |
| Course Fee is Rs.600/- per course. | |
| APPLICATION FOR ADMISSION, ELIGIBILITY CRITERIA & PROSPECTUS | |
| The Prospectus can be obtained from any of the IGNOU Regional Centres or Director (SR&E), Maidan Garhi, New Delhi - 110 068, on payment of Rs.300/- in cash or Rs.350/- through Demand Draft for sending by post and submit application form at Regional Centre. | |
| Candidate should be a Life Member of Indian Institute of Banking & Finance and should have passed the CAIIB examination. He should be a Graduate working in the Banking or Financial Services sector for at least two years. An electronic version of the Prospectus is also available at IGNOU website as under. | |
Finance and Accounting Careers
Accounting or financial managers are the people responsible for overseeing and maintaining the financial strategy and history of a company. The accounting manager is focused more on financial reporting, while the financial manager is focused on strategy and money management. Finance has been one of the more popular choices for MBA focus or concentration.
A finance MBA can offer numerous possibilities and can be an effective tool to help with promotions in the professions discussed below. Most prospective jobs for finance MBAs fall within investment banks, corporations, and securities firms. Many finance MBA graduates also follow careers in the consulting industry .
Financial Managers or Financial Analysts
Financial analysts and managers use historical (accounting) data in their decision making, however the number one role of the financial manager is to oversee the production of financial analysis and reports to help the company with decision making, business development, strategic planning, and alliance management. Through the use of these reports, the financial analyst helps to shape the company�s investment and business growth. Cash management strategies developed and implemented by the financial analyst help the company to grow efficiently and allow for maximum profitability in its investments.
Financial analysts and mangers play an important part in mergers and global financing and expansion. Highly specialized knowledge in these areas is an important asset to the financial manager and his or her employer to maximize potential profit and reduce risk. Many companies utilize globally active consulting firms exclusively for these purposes.
Accounting Managers
Accounting managers working in a corporate setting perform responsibilities relating to tax reporting and management, and creating income statements inside of controller and audit groups. This career path may bring one to the positions of corporate treasurer, corporate controller, or CFO (chief finance officer). Professional accountants working for a public accounting company will perform functions similar to those performed by independent audit or tax consultants. An educational history or background based in accounting, either as a Masters degree or as a finance MBA, will give you some of the coursework you need to have in order to take the CPA (Certified Public Accountant) exam.
Corporate Controllers
A controller is someone who is in charge of preparing a company�s financial reports to forecast and sum-up the company�s financial situation. The statements a controller would get together consist of balance sheets, income statements, earnings analyses, and expense analyses. Regulatory agencies may also require special reports from companies. Controllers prepare these reports. In addition, a controller will frequently be over the budget, auditing, and accounting departments of a company.
Chief Financial Officers
The top financial executive of an organization is the CFO. The CFO supervises all accounting and financial operations, as well as administering the company�s general financial policies and strategies. While the CFO in a small company will often be responsible for all of the financial management duties, a CFO in a large company may delegate some or all of the responsibilities to other managers or vice presidents within the company.
Treasurers and Finance Officers
Finance officers other than the CFO and treasurers oversee and guide a company�s financial objectives and budgets. The financial officer may formulate and implement strategies to raise capital, oversee cash management, or manage the company�s capital investment activity. Financial officers also play a significant role in a company�s merger and/or acquisition activities. The treasurer, while he or she may share some of the financial officer�s duties, will usually have some banking experience.
Cash Managers
The Cash Manager is responsible for overseeing and controlling cash flow, both accounts receivable and accounts payable. He or she is also responsible for ensuring that the cash position of the company is sufficient to meet current and forecasted needs, or whether adjustments in investment quantity and type are necessary.
Risk and Insurance Managers
Business operation and transactions involve a certain amount of risk. Risk managers and insurance managers work to minimize the amount of loss a company incurs and the amount of risk it is exposed to.
Management Consultants
Management consultants work to help companies with a wide variety of problems and issues. Everything from profitability improvement to corporate restructuring to financial strategy. The MBA going into this field should have either an expert understanding of a wide base of knowledge, or be highly skilled in two or more sub groups. The management consultant will also help companies with cash management and emerging market analysis.
Investment Bankers
An investment banker will work together with corporations needing capital to grow and institutions or investors who have money available to invest. An MBA is an enormous asset in this field as the investment banker will be giving investment advice to his or her clients regarding raising capital. Most investment banks have a corporate finance division that assists clients in structuring financial instruments such as stocks or bonds to raise capital.
Investment Banking Associates
People graduating with an MBA in finance often begin their career as an associate with an investment bank firm or investment firm. This is usually at least one level above the entry-level position as an analyst typically obtained by persons with only an undergraduate degree. Most analysts end up pursuing an MBA degree after a couple of years in the industry in order to obtain promotions. Many people in the corporate finance side of investment banking will obtain a CFA (Chartered Financial Analyst) designation as a supplement to their MBA. The Association for Investment Management Research (AIMR) is the governing body for the CFA exam and designation.
The mergers and acquisitions departments of investment banks provide consulting services to companies in the process of merging or acquiring other companies or organizations. Organizations wishing to acquire, dispose of, or invest in real estate will deal with the real estate division of an investment bank. Equities research and consulting for private clients are also frequently chosen as career paths for MBAs with focus in investment banking.
Investment Sales Associates and Traders
While MBA skills and knowledge are not explicitly required in this field, they do come in as very valuable in enabling a person to understand the economic principles that drive the financial markets. Investment traders and sales associates assist corporate or institutional investors in the purchase and sale of securities such as stocks and bonds. The sales associate makes recommendations and helps with the analysis, while the trader actually executes the orders for the client.
Credit Managers nd Specialysts
The Credit manager is in charge of managing the credit a company may issue to its clients or others. Credit managers formulate criteria for rating risk and credit, determine the maximum amount of credit to offer, and supervise past-due account collections.
A finance MBA can offer numerous possibilities and can be an effective tool to help with promotions in the professions discussed below. Most prospective jobs for finance MBAs fall within investment banks, corporations, and securities firms. Many finance MBA graduates also follow careers in the consulting industry .
Financial Managers or Financial Analysts
Financial analysts and managers use historical (accounting) data in their decision making, however the number one role of the financial manager is to oversee the production of financial analysis and reports to help the company with decision making, business development, strategic planning, and alliance management. Through the use of these reports, the financial analyst helps to shape the company�s investment and business growth. Cash management strategies developed and implemented by the financial analyst help the company to grow efficiently and allow for maximum profitability in its investments.
Financial analysts and mangers play an important part in mergers and global financing and expansion. Highly specialized knowledge in these areas is an important asset to the financial manager and his or her employer to maximize potential profit and reduce risk. Many companies utilize globally active consulting firms exclusively for these purposes.
Accounting Managers
Accounting managers working in a corporate setting perform responsibilities relating to tax reporting and management, and creating income statements inside of controller and audit groups. This career path may bring one to the positions of corporate treasurer, corporate controller, or CFO (chief finance officer). Professional accountants working for a public accounting company will perform functions similar to those performed by independent audit or tax consultants. An educational history or background based in accounting, either as a Masters degree or as a finance MBA, will give you some of the coursework you need to have in order to take the CPA (Certified Public Accountant) exam.
Corporate Controllers
A controller is someone who is in charge of preparing a company�s financial reports to forecast and sum-up the company�s financial situation. The statements a controller would get together consist of balance sheets, income statements, earnings analyses, and expense analyses. Regulatory agencies may also require special reports from companies. Controllers prepare these reports. In addition, a controller will frequently be over the budget, auditing, and accounting departments of a company.
Chief Financial Officers
The top financial executive of an organization is the CFO. The CFO supervises all accounting and financial operations, as well as administering the company�s general financial policies and strategies. While the CFO in a small company will often be responsible for all of the financial management duties, a CFO in a large company may delegate some or all of the responsibilities to other managers or vice presidents within the company.
Treasurers and Finance Officers
Finance officers other than the CFO and treasurers oversee and guide a company�s financial objectives and budgets. The financial officer may formulate and implement strategies to raise capital, oversee cash management, or manage the company�s capital investment activity. Financial officers also play a significant role in a company�s merger and/or acquisition activities. The treasurer, while he or she may share some of the financial officer�s duties, will usually have some banking experience.
Cash Managers
The Cash Manager is responsible for overseeing and controlling cash flow, both accounts receivable and accounts payable. He or she is also responsible for ensuring that the cash position of the company is sufficient to meet current and forecasted needs, or whether adjustments in investment quantity and type are necessary.
Risk and Insurance Managers
Business operation and transactions involve a certain amount of risk. Risk managers and insurance managers work to minimize the amount of loss a company incurs and the amount of risk it is exposed to.
Management Consultants
Management consultants work to help companies with a wide variety of problems and issues. Everything from profitability improvement to corporate restructuring to financial strategy. The MBA going into this field should have either an expert understanding of a wide base of knowledge, or be highly skilled in two or more sub groups. The management consultant will also help companies with cash management and emerging market analysis.
Investment Bankers
An investment banker will work together with corporations needing capital to grow and institutions or investors who have money available to invest. An MBA is an enormous asset in this field as the investment banker will be giving investment advice to his or her clients regarding raising capital. Most investment banks have a corporate finance division that assists clients in structuring financial instruments such as stocks or bonds to raise capital.
Investment Banking Associates
People graduating with an MBA in finance often begin their career as an associate with an investment bank firm or investment firm. This is usually at least one level above the entry-level position as an analyst typically obtained by persons with only an undergraduate degree. Most analysts end up pursuing an MBA degree after a couple of years in the industry in order to obtain promotions. Many people in the corporate finance side of investment banking will obtain a CFA (Chartered Financial Analyst) designation as a supplement to their MBA. The Association for Investment Management Research (AIMR) is the governing body for the CFA exam and designation.
The mergers and acquisitions departments of investment banks provide consulting services to companies in the process of merging or acquiring other companies or organizations. Organizations wishing to acquire, dispose of, or invest in real estate will deal with the real estate division of an investment bank. Equities research and consulting for private clients are also frequently chosen as career paths for MBAs with focus in investment banking.
Investment Sales Associates and Traders
While MBA skills and knowledge are not explicitly required in this field, they do come in as very valuable in enabling a person to understand the economic principles that drive the financial markets. Investment traders and sales associates assist corporate or institutional investors in the purchase and sale of securities such as stocks and bonds. The sales associate makes recommendations and helps with the analysis, while the trader actually executes the orders for the client.
Credit Managers nd Specialysts
The Credit manager is in charge of managing the credit a company may issue to its clients or others. Credit managers formulate criteria for rating risk and credit, determine the maximum amount of credit to offer, and supervise past-due account collections.
Saturday, January 12, 2008
Financing your MBA
Resigning from a secure job, moving country, even leaving behind family and friends; potential MBAs seem to take such obstacles in their stride. But with programmes at top-flight school now costing as much as US $75,000, one question seems to occupy business school applicants more than any other: just how can I find the money to pay for my education?
Every year, TopMBA surveys nearly 4000 aspiring MBAs around the world to establish whether finance is likely to prove a barrier to study. The latest survey found that most had already looked seriously into how they would fund business school. A wide variety of methods were cited, from scholarships to personal loans. Worldwide, 74% of respondents favoured scholarships. Next came a student’s own savings at 68% followed by some form of external loan at 61%. Overall, only 28% expected to get financial help from their employer.
Favoured funding methods vary considerably from area to area. Help from family and friends appears to be most common in the Asia-Pacific region, where it was cited by 48% of those questioned, contrasting with 43% in the USA and Western Europe. Personal loans were the preferred source for over 81% of US students, but for fewer than 57% of those from Latin America. Company sponsorship was expected by 36% of respondents in the Middle East and Africa, but by only 21% of those in Latin America. Own savings were the favoured method for 80% of Western European candidates, but for only 62% of those from the Middle East and Africa.
However, whatever a student’s initial preference, in practice, the most common source of finance is now the education or career loan. We look at some of the sources of such loans across the globe.
Selected sources of MBA Finance around the world
UK
UK citizens can borrow up to two thirds of their pre-study salary in any twelve-month period from NatWest to fund an MBA. Applicants need to contribute at least 20% of the course fees from their own resources and repayment periods range from 7 years for sums under £20,000 to 10 years for sums over £20,000. Interest is currently 6.9% APR. HSBC offers loans to students of a number of British based schools, including Cranfield, London Business School and Manchester Business School. Unlike many other schemes, this facility is open to students from anywhere in the world. Interest is charged at 2% over HSBC’s base rate for the duration of the loan. There are no upfront commissions or early repayment charges.
USA
There are several sources of aid for US students studying at home or abroad and for overseas candidates looking to study in the USA. These include:
Citibank has a very well developed student loan division, which provides standard loans and also partners with individual schools to provide tailored packages. The Wharton School at the University of Pennsylvania, for example, offers funding through Citibank, which guarantees most accepted students a prime plus 0.5% interest rate, with a 15-year payback period, and no co-signers or credit check required. www.citibank.com
IEFC – Students interested in studying at one of nearly 400 institutions around the world may be eligible for loans of up to US $45,000 from the IEFC (International Education Finance Corporation). The IEFC has three loan programs: the Stafford for US citizens or permanent residents, Can HELP for Canadians and ISLP for foreign students. To be eligible for ISLP you must be able to provide a guarantor, who is a US citizen or permanent resident. www.iefc.com
GATE Universal is a student loan program managed by First Marblehead Corporation and Bank of America. www.gateloan.com
MBA LOANS is a private loan program run by Sallie Mae and targeted specifically at US citizens. www.salliemae.com
Austria
CA-Post-Graduate, Creditanstalt offers some loans. www.creditanstalt.co.at
France
French residents of any nationality who have worked in the country can apply to FONGECIF (Fonds de Gestion du Congé Individuel de Formation) for up to 90% funding of tuition fees plus a part of their current salary. www.emse.fr/ASI/AIDES/fongecif.html
MBA in India
It’s the proverbial debate. Is an Indian MBA degree at par with global standards, or does one still have to look abroad for quality education? Here we are outlining a direct account of the advantages of pursuing an MBA at a premier institute in India.
As far as higher education is concerned, the educational scenario has changed dramatically in India in the last decade. In the debate of an MBA in India versus abroad, a student currently pursuing MBA in India believes that an Indian MBA scores over an international MBA on several counts.
The main advantage is the cost. An MBA from any good B-school in the US or UK cost anywhere between Rs 25 to 50 lakhs, whereas Indian MBA schools charge ten percent of the same amount. Secondly, when living abroad, a student has to spend far more than he would in India, and as a result need to work there for at least a few years to recover the amount. This severely hampers his prospect of returning to India after the completion of the degree.
On the other hand, a student from a reputed Indian B-School always has the option to work at either place, since all premier B-Schools have a significant amount of foreign placements taking place each year. Also, Indian is a vibrant economy today and corporate companies the world over value the pool of talent that exists here. In fact, people opt for position in India to be apart of the growing economy. Lately there has been an increase in the number of NRIs coming back to India. In this thriving scenario, it makes sense to get ones degree from an Indian B-School.
There has also been steady increase in the number of the tie-ups between Indian and foreign universities. Some of them include the SP Jain Institute of Management and Research with Virginia Tech, the Indian School of business with the Wharton School Kellogg School of Management, the management Development institute with Cambridge College, Great Lake & Yale, Wellingkar College with Temple University the institute of Management and technology with Fairleigh Dickinson University, Great Lakes and Yale University. Thus, with more and more premium international education its way to Indian shores one can experience the benefits a international education and a lesser cost.
Also, Indian MBA courses have been expanding and growing significantly in recent years. MBA graduates from Indian B-Schools have proved their mettle in the global working environment and are offered top positions in several organizations. Considering the purchasing power parity, initial expenditure (cost of the program), initial placements, and growth in salary as inputs in decision, MNCs do not have to think twice before coming to India in search of middle and senior management talent.
In every Indian B-school participants with two to five years of IT industry experience always fill a certain percentage of the batch. These students often have international exposure. Their multicultural experience adds value to the entire batch and program as a whole. And to a certain extent, it compensates for the rich diverse cultural experience that is associated with a US or UK MBA. Finally, Indian B-Schools are more open to non-experienced candidates than international B-schools, and thus prove to be an advantage to most people. Hence, keeping in mind today’s scenario we believe that an Indian MBA is the way to go. —
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